Partnership buys moldmaker, Weber Manufacturing
Canadian PlasticsCanadian Plastics
American Capital Strategies Ltd., an equity investment firm, and TMB Industries, a diversified manufacturer of indu...
American Capital Strategies Ltd., an equity investment firm, and TMB Industries, a diversified manufacturer of industrial and transportation products, have jointly acquired Weber Manufacturing Ltd. based in Midland, ON. Weber is known for its nickel shell molds produced by the nickel vapor deposition process. The company also manufactures traditional injection and compression steel molds and prototype aluminum molds for international customers in the automotive, heavy truck, aerospace and residential housing markets.
Terms of the purchase were not disclosed, however some members of Weber’s management are also investing in the equity, and Reinhart Weber, founder and former owner of Weber, will serve on the company’s board of directors and act as a consultant to the company, according to a press release.
“Our buyout of Weber is our eighth buyout in 2004,” said American Capital COO Ira Wagner. “Weber’s proprietary technology and growth prospects make it an excellent investment opportunity for American Capital. We are pleased to be working again with TMB Industries to take advantage of the numerous market opportunities available to Weber.”
Weber, founded in 1962, operates two facilities in Midland and employs over 200 people.